By Dave Sims, Commodity News Service Canada
WINNIPEG, August 18 – Canola contracts on the ICE Futures Canada platform were higher Friday morning, following gains in US soybeans and vegetable oil.
Traders were covering shorts, which also gave prices a boost.
Many fields in Western Canada could do with more rain.
Tight canola stocks underpinned the market.
However, the Canadian dollar was over half a cent stronger relative to its US counterpart, which made canola less attractive to domestic crushers and out-of-country buyers.
Large world supplies of soybeans weighed on values.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:05 CDT:
